The Dow Jones FXCM Dollar Index (ticker = USDollar) rose every day of the past trading week. We haven’t seen a five consecutive day advance from this benchmark since the run through November 1 – notably the beginning of an impressive bull run for the greenback.
The Euro was a top performer by the end of the week, but a batch of incoming data – especially on the inflation front – could destabilize the Euro’s recent run of resiliency.
The British Pound went from market leader to laggard, falling for five-consecutive trading days just after setting fresh multi-year highs the week before.
The Australian Dollar declined as expected last week and we continue to hold a short AUD/USD position from 0.90, looking for further weakness.
Gold prices nudged higher this week with the precious metal advancing 0.25% to trade at $1322 ahead of the New York close on Friday.
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Written by the DailyFX Research Team. To sign up for a weekly e-mail with our currency outlooks, go to our page for forex news delivered to your inbox.